China Proposes Max $4,500 Fine for Carbon Market Violations

China’s top environmental regulator is proposing a maximum fine of 30,000 yuan ($4,500) for participants in the country’s new national carbon market that don’t buy enough allowances to cover their greenhouse gas emissions.

The punishment was among several details outlined in a consultation paper the Ministry of Ecology and Environment sent to other government departments, seeking stakeholder opinions. Another penalty for insufficient coverage was an unspecified reduction in the amount of initial emissions allowances companies would get the following year.